UK house prices rise nearly 5% despite political turmoil

Average UK property price rose 4.7% last year adding about 3,300 to the cost of buying a typical home but London growth slows markedly

Growth in UK house prices has slowed but remains close to 5%, with faster growth seen outside London, according to official data.

House prices across the country increased 4.7% in the year to May, hitting an average of 220,713, the Office for National Statistics (ONS) said. The annual rate fell from 5.3% in April. Between April and May, prices were up 0.5%.

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